Aerohive Networks has filed for an IPO
Aerohive is a company that sells WiFi products that has filed to go public. The $75 public offering was expected to happen around this time because the company spoke about going public when raising their $22.5 million Series E funding round in 2012. The company raised one more round of funding after that with a $10 million Series F round in the middle of 2013.
The IPO is not priced yet and the number of shares that will be sold has not been disclosed. Aerohive will trade under the ticker symbol HIVE on the New York Stock Exchange.
Aerohive has raised over $100 million in funding on their road to IPO. Some of their investors include Northern Light, Lightspeed, Kleiner Perkins, and New Enterprise Associates.
Aerohive’s revenue was $15.6 million in 2010, $31.8 million in 2011, $66.6 million in 2012, and $70.3 million for the first 9 months of 2013. In the first rhee quarters of 2013, Aerohive’s operating expenses were up 60%.